Vladimir BAZAN - Personal Essay
In 1995 I successfully completed full time course of the Belarussian State Economic University which is one of the best educational institutions in Belarus. The major course was concerned with basic economic topics, such as the history and theory of economics and international economic development. Amongst many subjects studied at the University I would point out macro- and microeconomics, national economy in the long and short run, models of economic growth, macroeconomic problems (inflation, unemployment, business circles), international trade: theory of comparative advantage, terms of trade and competitiveness, trade policy, trade blocs, international economic and financial organizations. Many lectures were taught by guest lecturers from IMF, World Bank, EBRD, UN offices in Minsk. International capital flows were in the field of my special interest. My graduation essay on Foreign Capital in Belarus was highly evaluated by the Examination Committee of the University.
After the graduation I was employed by the Ministry of Foreign Economic Relations. This Ministry works out concepts and programs for the development of foreign economic activities of Belarus, takes part in the development of the integral mechanism of regulation of currency and credit relations with foreign countries, carries on work aimed at involving foreign production and financial investments into the economy of the Republic, analyzes the effectiveness of foreign investments, issues to foreign organizations and firms permits for opening their representations in the Republic of Belarus, registers joint and foreign enterprises, international organizations and associations, etc. That was the first place where I was able to supplement my theoretical knowledge with a great deal of practical skills. Working here in the field of cooperation with the World Bank and International Monetary Fund I occupied three positions and was promoted to Chief Expert. While the above Ministry was an integral part of the Government for a short period of time I gathered experience in many aspects of state economic development. The ongoing extensive transformation process of the Belarussian economy could explain my intensive and concentrated work in this field as a specialist of governmental institution.
The most significant accomplishments of my work can be grouped compliant with my duties, described as follows.
Cooperation with the World Bank and International Monetary Fund:
- Realization of Forestry Development Project financed by IBRD. In consultation with the experts and authority of the World Bank, as a member of official team, I have particularly participated in the preparation and implementation of an action plan for the forestry sector policy reform. The core component of this reform was the liberalization of international trade in wood and wood products in Belarus. One of our main task was to abolish export quotas and licenses and impose temporary rents for the export of woods and wood products. I was also appointed a member of the tender committee in the framework of Forestry project procurement plan.
- Preparation of the Draft Law on Public Procurement and guidelines for the creation of an organization on institutional support and monitoring of public procurement operations in Belarus. This work has been done jointly with the experts of the World Bank. It is an undoubtedly meaningful action, because a very significant part of the economic reform program in the Republic of Belarus aims at reducing costs in public expenditures. There are several mechanisms involved in such a cost reduction program, but one very important component is to strengthen efficiency in the utilization of actually allocated public funds for the procurement of goods, works and services under the investment program as well as for general purposes.
- Attraction and allocation of financial resources under IMF Stand-by Program and IMF System Transformation Fund. Together with experts from National Bank, Ministries of Finance and Economy and with a great assistance rendered by IMF we have done considerable work in improving critical situation as regards the balance of payment of the republic.
Participation in independent feasibility study preparation, informational, consulting and analytical support of investment projects performed in Belarus by the following international companies: Navistar and Detroit Diesel (joint production of diesel engines, powertrain components and trucks), Coca-Cola (joint production of soft drinks), Ford Motor (automobile assembly plant), Brown & Root (modernization of Belarussian petrochemical complex "Polimir"). My work in this field was primarily determined by the applicability of programs realized by such U.S. financial organizations as OPIC, TDA, Eximbank to different investment projects in Belarus.
Foundation of Foreign Direct Investment Promotion Agency (prospective national coordinator in attraction of external financial resources); Organization of the First International Investment Conference in Minsk (June 1996); Creation of Free Economic Zones in Belarus (preparation of legal, organizational and other regulation), etc.
During the time of my work there I participated in international training seminars on Public Procurement (Stockholm, Sweden) and International Trade and Investment (Washington DC, U.S.A.). It was a good opportunity for me to study international regulation and different important topics on the above questions and share experience with other participants and lecturers.
Working in the Ministry of Foreign Economic Relations of the Republic of Belarus I was fully engaged in the decision-making process of Belarussian Government. Understanding the high level of responsibility I continuously improve my educational background. Nowadays, to pursue effective economic policy, officials of central state institutions should be familiar with the basic up-to-date approaches in public policy, macroeconomic analysis and management techniques. This is the most actual problem for experts from the former Soviet Union. In transition economies like Belarus perfect analytical skills are necessary in evaluating alternative methods of achieving society's goals and objectives and in formulating strategies and policies that will help to achieve these objectives on micro and macro levels.
For these reasons in 1997 I applied for different international graduate study programs. Competing with other applicants I passed necessary tests and met selection requirements for:
- Admission to the International Economic Policy Management Graduate Program of the Columbia University (New York, USA) leading to the Master Degree in International Affairs - financing was not available
- Maskie / Freedom Support Act Fellowship Award for the Graduate Study in an American University leading to the Master Degree in Economics
- British Chevening Fellowship Award for the Graduate Study in a British UniversityPresently (1997 - 1998) I am doing my Master's in Economics at the Gatton College of Business and Economics at the University of Kentucky (Lexington). I expect that this program can strengthen my potential to formulate economic policy decisions, to act as policy analyst and adviser, and to implement policies.
Last updated June 20, 1998. © Copyright 1998, Vladimir Bazan